Oil Spread Tightens After Report Shows US Tanks Filling Slower
Oil reversed losses as the pace of stockpile builds at the key U.S. storage hub slowed last week.
Oil Climbs on Biggest Jump in US Gasoline Demand in 11 Months
Oil rallied on optimism that consumption could gradually return as major producers continue to cut output to counter a global glut.
Oil Swings After Major Index Bails Out of June Contract
Oil resumed losses after a brief bounce higher amid the aftershocks of a major index tracked by billions of dollars in funds exiting near-term contracts for fear prices may turn negative again.
Oil Plunges Back Below $12 With ETF Sell-Off Adding to Pressure
Oil slumped below $12 a barrel as the biggest oil ETF said it will sell out of its June WTI futures position, adding to the downward pressure from a huge glut.
Anguish Grows in Russia Oil Sector Overwhelmed by Price Fall
As Russia’s small oil producers struggle to survive a historic price crash, some say in private they wish they could just set their crude ablaze.
April 23, 2020OPEC+ Ministers Hold Impromptu Call to Reflect on Price Rout
Oil ministers from the OPEC+ coalition held an unscheduled conference call on April 21 to discuss the collapse in crude prices, though a closing statement signaled they didn’t settle on any new policy measures.
April 21, 2020Negative WTI Offers Glimpse of Future for Oil Market in Meltdown
Traders may have hoped that the April 20 collapse in U.S. oil prices below zero for the first time in history was an aberration.
World’s Biggest Oil Storage Firm Says Almost All Space Sold
The world’s biggest independent oil storage company has all but run out of space for crude and refined products as a result of the fast-expanding glut that COVID-19 has created.
Oil Plunges Below Zero for First Time in Unprecedented Fall
Of all the wild, unprecedented swings in financial markets since the coronavirus pandemic broke out, none has been more jaw-dropping than Monday’s collapse in a key segment of U.S. oil trading.
April 20, 2020Stocks Sink Under Weight of Another Collapse in Oil Prices
Stocks have fallen in early trading on Wall Street April 20, as energy stocks get hammered by the latest collapse in the price of oil.